Re: Re: y buy?

#94091

Anonymous
Participant
UBEDA wrote:
kevducky, there will be nearly one million properties available for rent on the Spanish costas soon – short term, long term etc – no maintenace, no community fees, no urban tax, no exposure to currency movements, no exposure to further downward movements in prices once DEFLATION takes hold in the national economy ………. so why not rent for five years ????????????

I agree with you UBEDA. I have rented very happily for the past 2 years having sold my property here for €320,000. It is back on the market for €225,000; who knows what it will eventually go for.

Chris McCarthy – depite saying “I am categorically not saying buy now“, followed by the somewhat sarcastic

“Don’t buy property today – at prices last seen 9 years ago – now right at the bottom of the market, you go into the next five years paying rent instead, but don’t be miffed at yourself when you figure the capital appreciation you would certainly have had in 5 years time”;

it is clear you fell the market has bottomed. If there has been no capital growth from what you say above over the past 9 years, is it really far fetched to see no more growth in another 5 years (or another 9 years)?

People who invested in an apartment in the Dakota Building, New York outside which John Lennon was shot took 40 years from the Depression to 1976 to regain their capital.

Kevducky, if you really want buy for lifestyle reasons then do it, but as an investment it is very risky; as risky as your later comment about trying to predict currency rates.

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